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With each raise I increase investing, saving, and giving so there’s less to spend and allow for lifestyle creep to happen. I think getting to a comfortable lifestyle is fine (could resemble lifestyle creep I guess).
Don’t have a wife or a girlfriend, then it’s easy :).
Haha yeah my wife makes good money as well
What’s wrong with a little bit of lifestyle creep? Can’t be making senior manager pay and only have Ikea furniture right
Oh, I definitely need therapy about related sensory issues (like “i hate all clothes” and “i hate all shoes” and “all food looks gross”). Probably tied up in a derealization way with why I went into accounting, because it’s a numbers/logic/digital/headspace arena and dealing very little with the physical world.
Don’t watch TV then you won’t see ads. Also find friends who are like minded, if you don’t have other friends who do lifestyle creep then you’re less apt to do it yourself. My husband and I have a big set of friends where we like hanging out chilling saving for the future talking about investing etc. They wouldn’t be impressed with our lifestyle creep and we wouldn’t be impressed with their’s so it works out lol
Step 1: Give yourself the salary of an Associate to live off of, and sock the rest to automatically pull into investments.
Step 2: Pay the Associates More
Assocaites more, meh.
Seniors & solid managers more? Most def
Tax season unfortunately helped with lifestyle creep since I didn’t have time to spend money having fun. 😩
Automatically divert funds from your direct deposit payroll to savings. If your chequing balance stays consistent then it’s easier to avoid lifestyle creep.
Oh and don’t have a kid. Or kids. They’re expensive af.
Yep - I have one too. My savings rate has dropped substantially lol. Goodbye early retirement, but hello awesome kid!
There is no point in getting raise if you cant spend it.
I transfer a fixed % of salary to an investment account, pay all bills and spend whatever left.
- started with 70K+ of student debt so I vowed to sort of live like a college student until I bought it down
- for expensive things I want, I don't immediately buy them - I wait for deals and stack coupons. See Slickdeals.net
- I avoided the common thing I see people with money so, mindlessly throw money away on drinks when going out. You're going to poop that out the next day. Just pre game more before going out
- switched focused to investing years ago and understood importance of compound interest and it investing as early/possible (this actually means you can spend more a little later in life if you desire)
- from the previous point, learning about this made me realize they I wanted I could potentially achieve FIRE by 45 - 50 or sooner (depends on what crypto does)
I saw someone else mention not having a girlfriend. In my mind, that would probably be a benefit for me if I had one because of there would be a higher potential to split costs. If not, it would just be slightly more spending due to dates/events etc which would replace the spending that I'd do going out.
Yeah for sure regarding having a family. That's why one of the reasons I focuson saving and investing now. If I have a family down the road then I won't need to save as much money and I can spend significantly more in them without worrying in retirement.
Figure out what amount you should be saving every year. Be aggressive in that. Have fun with what's left. Nothing wrong with that, and what's the point if you can't have any fun.